Samsung’s Galaxy Z Fold 3 and Galaxy Z Flip 3 officially landed in stores worldwide Friday. The company announced Friday, that it was rolling out its latest foldable smartphones series in 40 countries including South Korea, the United States, Canada, the United Kingdom and France. The products will be available in 130 countries by October, Samsung said. Presales were strong around the globe, the company said. Total preorders logged in 70 countries greatly surpassed that of its previou

LG Magna e-Powertrain, a joint venture between South Korea’s LG Electronics and Canada’s Magna International, has kick-started its operation in Korea. The company revealed the inside of its plant located in Incheon on Friday, showing that its operation is going as planned. At its Incheon plant, the new firm will be dedicated to producing electric motors, inverters, onboard chargers and electric drive systems. The joint venture officially kicked off on July 1 under leadership of

Samsung Electronics Co. lost its top spot in India's ear-worn device market in the second quarter of the year, a report showed Friday, as its rival brands expanded their presence.  The South Korean tech giant registered a market share of 7.9 percent in the April-June period, sharply down from their 30.4 percent share a year earlier, settling for the third position in the Indian earwear market, according to industry researcher International Data Corp. (IDC). Samsung's shipment of smart ea

Samsung Electronics Co. expanded its presence in the Europe, Middle East and Africa (EMEA) tablet market in the second quarter of the year, a report showed Friday, despite an overall market decline. The South Korean tech giant shipped 3.55 million tablets in the EMEA market in the April-June period for a 30.1 percent market share, according to the latest report from industry researcher International Data Corp. (IDC). The figures were up from a year earlier when the company shipped 3.42 milli

　South Korea's online food market jumped more than 45 percent in the first half of the year from a year earlier, due to the fallout from the coronavirus pandemic, data showed. 　The value of online food transactions in Asia’s fourth-largest economy stood at 27.8 trillion won ($23.5 billion) in the January-June period, up 45.4 percent from a year earlier, according to data from Statistics Korea and industry sources. 　It was the largest half-year tally, breaching the previous record of

South Korea has produced only one unicorn startup so far this year, falling far behind the US and China, according to a report from the Federation of Korean Industries. Across the world, a total of 291 startups have attained unicorn status -- reaching a market valuation of over $1 billion -- during the January-July period, according to the FKI report, citing data from tech market research firm CB Insights. Market Kurly, a food delivery and logistics platform here, was the only South Korean e

South Korea’s Fair Trade Commission will commission a research project to determine the major problems that consumers face when they use e-commerce platforms, in an effort to seek a better understanding of the booming e-commerce sector. According to government sources Thursday, the antitrust watchdog posted a notice on the state-run Korea ON-Line E-Procurement System on Monday, seeking bidders to carry out the project. The FTC saw the need for systemized research on the issue as e-comme

P&O Chemical, a joint venture between Posco Chemical and OCI, will produce petroleum pitch material for lithium-ion batteries, to respond to increasing demand for battery cells around the globe, Posco Chemical said Thursday. Petroleum pitch is used as a base material for anodes when producing lithium-ion batteries. According to Posco Chemical, the company and its partner OCI will invest a combined 74.5 billion won ($63.4 million) in the joint venture’s project, with a goal of secu

Nexon employees hired within the past two years have created seven-minute video clips to share their experiences with new recruits. The company is hiring interns as part of its six-month Nexon Tutorial program. In the clips, five employees from the game firm’s four divisions -- business, new development, live development and intelligence labs -- briefly introduce their work and offer candid thoughts for people hoping to land internships at the company. Nexon Tutorial, launched this ye

Four out of 10 workers at major South Korean travel agencies were laid off in the past two years as the ongoing pandemic battered the tourism industry. According to data from the Financial Supervisory Service on Thursday, the total number of staff members hired at six travel companies listed in the stock market dropped by 39.7 percent compared with June 2019, before the pandemic. Korea’s largest travel agency, Hana Tour, saw the biggest drop of 52.8 percent. Mode Tour, the second-large

Ikea Korea will not raise product prices in the next 12 months, sticking to its policy of offering quality products at low prices, the Swedish furniture giant’s Korean unit said Thursday. Holding an online press conference, the firm also revealed that in the fiscal year ending this month, it has seen a 23 percent jump in consumer visits to both online and offline stores but sales growth stood at a disappointing 3.4 percent. In the previous fiscal year, the company had reported about 30 p

Leading automaker Hyundai Motor Co. was the top employer of physically challenged workers among 70 major firms in South Korea in 2020, with their total hiring of disabled people continuing to rise, a corporate tracker said Thursday. Hyundai Motor, the flagship of No. 5 global automaker Hyundai Motor Group, had 2,108 employees with disabilities last year, which accounted for 3.12 percent of its head count, according to Korea CXO Institute. The ratio was up from 2.95 percent in 2019, and Hyundai

South Korea's standard agency said Thursday it will spare no efforts to lead the global standardization of technologies related to the metaverse as the industry is expected to further expand down the road amid the COVID-19 pandemic. "Online meetings and lectures, along with remote working, have emerged as a new norm amid the pandemic," Lee Sang-hoon, who heads the Korean Agency for Technology and Standards, said during the International Display Standardization Forum held virtually on

Retail sales in South Korea advanced 13 percent in July from a year earlier, data showed Thursday, on the back of strong demand for food delivery services amid the prolonged social distancing measures. The combined sales of 25 major offline and online retailers reached 12.9 trillion won ($11 billion) last month, compared with 11.4 trillion won tallied in the previous year, according to the data compiled by the Ministry of Trade, Industry and Energy. Sales from offline stores moved up 7 percent

BMW, Mercedes-Benz and four other companies will voluntarily recall nearly 49,000 vehicles to fix faulty components, the transport ministry said Thursday. This is the latest in a series of recalls by carmakers in South Korea and vehicle importers due to problems with vehicle components. The companies, including Audi, Hyundai Motor Co. and Suzuki MAN Truck & Bus Korea Ltd., are recalling a combined 48,797 units in six kinds of models, the Ministry of Land, Infrastructure and Transport said